The Goldman Sachs Group (NYSE:GS) Downgraded to Hold Rating by Hsbc Global Res

The Goldman Sachs Group (NYSE:GS) was downgraded by stock analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other analysts have also issued research reports about the company. Morgan Stanley upped their target price on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price objective on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Citigroup lifted their target price on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Finally, Keefe, Bruyette & Woods lifted their price objective on The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $550.63.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $605.22 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group has a 52-week low of $334.87 and a 52-week high of $611.30. The company has a 50-day simple moving average of $534.27 and a 200-day simple moving average of $496.57. The company has a market capitalization of $189.98 billion, a PE ratio of 17.76, a P/E/G ratio of 0.88 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company posted $5.47 earnings per share. Equities research analysts predict that The Goldman Sachs Group will post 37.15 earnings per share for the current fiscal year.

Insider Activity at The Goldman Sachs Group

In other news, EVP John F.W. Rogers sold 6,416 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the completion of the sale, the executive vice president now owns 57,614 shares in the company, valued at approximately $34,358,685.04. The trade was a 10.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sheara J. Fredman sold 2,974 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the sale, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,390 shares of company stock worth $6,656,119. 0.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Several institutional investors have recently bought and sold shares of the business. POM Investment Strategies LLC purchased a new stake in The Goldman Sachs Group during the 2nd quarter worth $26,000. Semmax Financial Advisors Inc. acquired a new position in shares of The Goldman Sachs Group during the second quarter worth about $26,000. Headlands Technologies LLC purchased a new stake in shares of The Goldman Sachs Group in the second quarter worth about $27,000. SJS Investment Consulting Inc. grew its stake in shares of The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after buying an additional 31 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in shares of The Goldman Sachs Group by 6,300.0% during the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after buying an additional 63 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.